The issue attracted bids of Rs 21,045.10 crore and was oversubscribed by more than 5 times against the base issue size of Rs 4,000 crore. The total number of bids received was 134 indicating wider participation. The investors were across provident funds, pension funds, insurance companies, mutual funds, corporates etc. The bank has AAA credit rating with stable outlook from all domestic credit rating agencies for the said instrument.

The bank has decided to accept Rs 10,000 crore at a coupon rate of 7.49% payable annually. With the current issuance, the total outstanding long-term bonds issued by the bank are at Rs 39,718 crore.

Prior to this, the bank had raised long term bonds of Rs 10,000 crore on 1st August 2023 at a spread of 13 bps over corresponding FBIL G-Sec par curve.

SBI is banking and financial services statutory body engaged in providing a wide range of products and services to individuals, commercial enterprises, large corporates, public bodies, and institutional customers.

The largest PSU bank's standalone net profit zoomed 178.25% to Rs 16,884.29 crore in Q1 FY24 as against Rs 6,068.08 crore in Q1 FY23. Total income grew 44.07% year on year (YoY) to Rs 1,08,038.83 crore in the quarter ended 30 June 2023.

The scrip rose 1.67% to ended at Rs 598.10 on Friday, 22 September 2023.